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Operates Yoshinoya, Japan's iconic beef-bowl (gyudon) fast-food chain, plus Hanamaru Udon.
Operates Yoshinoya, Japan's iconic beef-bowl (gyudon) fast-food chain, plus Hanamaru Udon.
Beef, mostly imported, and rice are the main costs, so beef prices and the exchange rate matter; it runs company-owned and franchised stores in Japan and abroad.
In one line: Japan's answer to a beef-bowl McDonald's.
Moat: narrow (brand, scale). Iconic beef-bowl brand with decades of recognition and a dense store network.
Headquarters: Tokyo, Japan · Founded: 1899 · Employees: 3,361
Size Yoshinoya (9861.T) is a Japan Consumer Discretionary company (Restaurants) with a market value of $1.84B, the 510th largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥4,496 on 6 Nov 2026.
Performance Over six months the shares gained 42.3%, against +22.4% for the median peer and +1.8% for the Japan market (cap-weighted) — 8th highest of 21 in its peer set.
Growth Revenue grew 9.5% over the last twelve months (peer median +4.1%); the operating margin is 4.0% (peer median 6.6%).
Valuation It trades at 45.5× forward earnings against a peer median of 21.0× (5th most expensive of 19).
Price implies For today's price to make sense, revenue must grow about 11% a year for seven years (Req g). Recent delivered growth is +6%, so the hurdle is +5 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 3.6 points above its cost of capital (5.0% WACC).
Next results Next results expected around 13 Jan 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ¥237B | ¥226B | ¥205B | ¥187B | ¥168B |
| Revenue growth | — | +10% | +9% | +12% | — |
| Gross profit | ¥139B | ¥132B | ¥124B | ¥115B | ¥102B |
| EBITDA | ¥17.5B | ¥16.1B | ¥14.5B | ¥14.5B | ¥9.81B |
| Net income | ¥5.83B | ¥4.67B | ¥3.80B | ¥5.61B | ¥7.23B |
| Free cash flow | n/a | ¥4.62B | ¥15.0M | ¥10.7B | ¥1.17B |
| Capital expenditure | n/a | ¥10.6B | ¥13.6B | ¥9.70B | ¥6.32B |
| Total debt | ¥32.1B | ¥28.8B | ¥28.3B | ¥28.6B | ¥33.6B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Yoshinoya 9861.T | $1.84B | +42% | +10% | 4% | 45.5× | 11.2% |
| Zensho 7550.T | $12.2B | +41% | +12% | 7% | 34.3× | 6.1% |
| Matsuya Foods 9887.T | $733M | +7% | +18% | 4% | n/a | n/a |
| Saizeriya 7581.T | $2.52B | +60% | +17% | 5% | 26.9× | 4.6% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 9861.T | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +22.3% | +4.2% | 3rd highest of 21 |
| 6-month return | +42.3% | +22.4% | 8th highest of 21 |
| Distance from 52-week high | -8.2% | -10.2% | 10th highest of 21 |
| Revenue growth (TTM) | +9.5% | +4.1% | 7th highest of 21 |
| Operating margin | 4.0% | 6.6% | 6th lowest of 21 |
| Forward P/E | 45.5× | 21.0× | 5th most expensive of 19 |
| Growth the price implies (Req g, 7 yrs) | 11.2% | 7.7% | 9th most demanding of 20 |
| Growth delivered (Del g) | +5.8% | +15.6% | 4th lowest of 20 |
| Hurdle (Req g minus delivered) | +5.4 pp | -2.6 pp | 5th most demanding of 20 |
| ROIC minus cost of capital | +3.6 pp | +0.1 pp | 7th highest of 21 |
| EV / EBITDA | 17.0× | 10.7× | 4th most expensive of 18 |
| Net debt / EBITDA | 0.3× | 3.1× | 5th least indebted of 19 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Yoshinoya 9861.T | Japan | $1.84B | +42% | +10% | 4% | 45.5× | 11.2% | +5.8% |
| SSP SSPG.L | United Kingdom | $1.87B | +17% | +5% | 7% | 13.9× | 2.6% | +20.5% |
| Guzman y Gomez GYG.AX | Australia | $1.82B | +55% | +19% | 17% | 51.0× | 32.7% | +34.2% |
| Devyani International DEVYANI.NS | India | $1.68B | +8% | +14% | 4% | 323.9× | 52.1% | +37.6% |
| Travel Food Services TRAVELFOOD.NS | India | $1.63B | -6% | -2% | 30% | 31.7× | 13.0% | +15.6% |
| Wendy's WEN | United States | $1.55B | +12% | -1% | 13% | 17.9× | 2.4% | +4.7% |
| Colowide 7616.T | Japan | $1.51B | +21% | +16% | 4% | n/a | 13.6% | +12.3% |
| Monogatari 3097.T | Japan | $1.50B | +43% | +22% | 8% | 25.4× | 2.0% | +18.8% |
| Domino's Pizza Enterprises DMP.AX | Australia | $1.48B | +48% | -11% | 5% | 16.9× | 17.9% | -1.4% |
| Arcos Dorados ARCO | United States | $1.45B | -23% | +11% | 6% | 9.1× | -3.5% | +18.7% |
| create restaurants 3387.T | Japan | $2.34B | +14% | +3% | 5% | 65.7× | 17.8% | +17.3% |
| Cracker Barrel Old Country Store CBRL | United States | $1.45B | +106% | -5% | 0% | 30.3× | 14.0% | +3.3% |
| Sweetgreen SG | United States | $1.43B | +72% | -1% | -18% | n/a | n/a | n/a |
| Saizeriya 7581.T | Japan | $2.52B | +60% | +17% | 5% | 26.9× | 4.6% | +19.0% |
| J D Wetherspoon JDW.L | United Kingdom | $1.33B | +69% | +5% | 5% | 19.6× | 7.7% | +23.7% |
| Mitchells & Butlers MAB.L | United Kingdom | $2.56B | +25% | +3% | 12% | 10.2× | 4.7% | +12.9% |
| Guangzhou Restaurant 603043.SS | China | $1.31B | 0% | +9% | 11% | 17.3× | -3.5% | +10.4% |
| TORIDOLL 3397.T | Japan | $2.68B | +19% | +3% | 7% | 57.7× | 5.9% | +15.6% |
| Domino's Pizza DOM.L | United Kingdom | $1.19B | +24% | +6% | 15% | 13.1× | 9.5% | +6.3% |
| BJ's Restaurants BJRI | United States | $1.18B | +30% | +4% | 3% | 22.5× | 26.8% | +12.4% |
| Xiaocaiyuan International 0999.HK | Hong Kong | $1.17B | +16% | +3% | 15% | 13.1× | -9.6% | +15.8% |